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There are multiple teams around Major League Baseball that are currently looking to sign another pitcher to add to their rotation, and there is no pitcher on the market better than Masahiro Tanaka. Going 24-0 with a 1.27 ERA last season in the Japanese League, Tanaka is being sought after by numerous teams, and has until January 24th to make a decision.

Though multiple organizations around the country are reportedly interested in Tanaka, the New York Yankees are the team that could use him the most, in the minds of many, of the teams that can actually afford to make the deal. The Yankees have made a few good moves so far this offseason, and signing Tanaka to add to their somewhat weak rotation would make an immediate impact for the 2014 season.

Joining a rotation of C.C. Sabathia, Ivan Nova and Hiroki Kuroda, among others, Tanaka would likely be the Yankees’ number two pitcher, behind Sabathia, and could potentially become their number one. Tanaka certainly has the talent, though there’s always the risk that he could fail in the Major Leagues, as has happened to multiple Japanese pitchers in the past. Most people, however, don’t see that occuring with Tanaka, as he has incredible stuff.

But that doesn’t necessarily mean signing Tanaka is the right thing to do.

While the Yankees are likely going to be able to use the money previously owed to Alex Rodriguez, who is going to miss all of the 2014 season, they need to look at the big picture, in my opinion. Yes, picking up Tanaka would make them a good team, but signing other players with the money would make them a really good team.

Tanaka is going to take a lot of money to sign — probably leading them to overspend to beat out the competition. To me, it would better serve the Yankees to use the A-Rod money to sign multiple, cheaper free agents to fill their needs, such as their closer role, as well as other starting pitching options.

The Yankees are rumored to be interested in Grant Balfour, who was picked up by the Orioles last month before having his deal canceled after failing their physical, reportedly due to knee and wrist issues. Assuming Balfour is actually healthy, the Yankees should be able to get him for a decent price, and, while he’s no Mariano Rivera, he would do a great job at closing out games for them, posting 38 saves with a 2.59 ERA last season.

As far as starting pitchers go, Ubaldo Jimenez would be a great alternate option for the Yankees, as I’ve felt for awhile. Though Jimenez has had his share of ups and downs over his career, he has the potential to be a good pitcher, showing that ability over the last half of the 2013 season in which he was tremendous. Should Jimenez have a bounce back year in 2014, he could easily be a steal by the Yankees.

All things considered, there are several options for the Yankees moving forward this offseason, many of which don’t include Japanese phenom Masahiro Tanaka.